C Corporation Income Tax

Are paid in capital counted as taxable income to the corporation?

No, paid in capital are not taxable income and are not taxes as such to the corporation.

When do I use IRS tax form 1120-A instead of the 1120?

A corporation must file income tax return on the IRS tax form 1120 or IRS tax form 1120-A. What is the IRS tax form 1120-A used for? The IRS tax form 1120-A is used for companies or corporations that have:

• gross receipts,
• total income, and
• total assets

of less than $500,000. There are also additional requirements for using the IRS tax form 1120-A.

When are corporation taxes due?

A corporation tax return is due on March 15th. If a corporation is not using the fiscal year beginning January 1 and ending on December 31, then the corporation will have to file the income tax return on or before the 15th day of the third month following the close of the fiscal year of the corporation. So, make sure you know when the fiscal year of the corporation is when you filed for incorporation.

IRS tax help for corporation tax filing

For more information and for IRS tax help regarding corporate tax filing, see IRS tax publication 542. IRS tax help publication 542 has information on various IRS tax filing provisions, filing requirements for corporations, how to calculate taxes, estimated tax payments and requirements, corporate distribution and retained earnings and other tax information that could apply to corporations.